UNEMPLOYMENT DROPS WHILE OIL & GAS INDUSTRY JOBS GROW BY MORE THAN 17%

The San Antonio-New Braunfels metro area unemployment rate dropped to 7.5 percent in October, down from 8.0 percent reported in September. Oil & Gas industry jobs grew 17.7% over-the-year in the Alamo region, the largest job growth rate for this industry since 2001.

“The Eagle Ford Shale impact on job numbers is significant,” said Patrick W. Newman, Executive Director of Workforce Solutions Alamo. “The continued opportunities for resources and the expansion of various companies into the Alamo region will continue to contribute positively to this industry, possibly offsetting any losses that may occur in other industries, thereby changing any previous expectations of future unemployment rates or job numbers.”

The Oil & Gas industry added 100 jobs (2.6%) between September and October, and 600 jobs (17.7%) since this same time last year. Job gains were also reported in the Education and Health Services industry with 2,600 jobs (1.9%) added over-the-month, with the industry maintaining a strong annual growth of 8,000 jobs (6.1%) since October last year. Trade, Transportation and Utilities increased by 900 jobs (0.6%) as hires began for the holiday season shopping. Retail Trade reports an annual growth of 4,100 jobs (4.4%), which is the strongest October annual job numbers for this industry subsector this decade. Financial Activities gained 700 jobs (1.1%) between September and October, a second month of strong numbers for this industry. It maintains a positive annual growth of 300 jobs (0.5%).

Total non-agricultural jobs reported an over-the-month gain of 1,400 jobs (0.2%) and a positive annual gain of 8,100 jobs (1.0%) since October 2010. The Government sector reported 2,300 jobs gained (1.5%) since September but reports negative numbers over-the-year at -4,300 (-2.6%), with the majority of losses coming from Local Government as public schools trimmed staffing due to budget cuts.

The most jobs losses reported over-the-month occurred in the Leisure and Hospitality industry with -3,100 jobs (-3.0%) reported, an expected trend at this time of year. Other losses include -1,300 jobs (-2.9%) in Construction, however the industry reports a positive annual growth of 900 jobs (2.1%). Professional and Business Services continues to struggle with jobs losses reporting -700 jobs (-0.7%) over-the-month, and -4,400 jobs lost since this same time last year.

When the Workforce Solutions Alamo metro area is compared to the state and nation, the Texas unadjusted (actual) unemployment rate dropped to 8.0 percent in October, down from 8.4 percent reported in September. The nation’s unadjusted (actual) unemployment decreased to 8.5 percent in October, down from 8.8 percent reported in September. Comparatively, the state and nation release seasonally adjusted unemployment rates reporting 8.4 percent and 9.0 percent respectively in October.

Here’s the unadjusted unemployment rate breakdown for the Alamo region for October 2011: